Foundation Building Materials, Inc. (NYSE:FBM) – William Blair decreased their Q3 2017 earnings per share estimates for Foundation Building Materials in a report released on Wednesday. William Blair analyst R. Merkel now expects that the company will post earnings of $0.11 per share for the quarter, down from their previous estimate of $0.13. William Blair also issued estimates for Foundation Building Materials’ Q4 2017 earnings at $0.09 EPS, FY2017 earnings at $0.36 EPS and FY2018 earnings at $0.58 EPS.

A number of other brokerages have also weighed in on FBM. Royal Bank Of Canada lowered their price target on shares of Foundation Building Materials from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Robert W. Baird reissued a “hold” rating and issued a $15.00 price target on shares of Foundation Building Materials in a report on Monday. Barclays PLC lowered their price target on shares of Foundation Building Materials from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Zacks Investment Research raised shares of Foundation Building Materials from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. Finally, Deutsche Bank AG lowered their price target on shares of Foundation Building Materials from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $18.00.

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Foundation Building Materials (NYSE:FBM) last released its earnings results on Thursday, August 3rd. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). The business had revenue of $529.20 million during the quarter, compared to analysts’ expectations of $536.72 million. Foundation Building Materials’s quarterly revenue was up 95.9% compared to the same quarter last year.

Hedge funds have recently made changes to their positions in the business. Virtu KCG Holdings LLC bought a new position in Foundation Building Materials in the second quarter valued at approximately $129,000. JPMorgan Chase & Co. bought a new position in Foundation Building Materials in the first quarter valued at approximately $133,000. The Manufacturers Life Insurance Company bought a new position in Foundation Building Materials in the second quarter valued at approximately $143,000. Rhumbline Advisers bought a new position in Foundation Building Materials in the second quarter valued at approximately $175,000. Finally, New York State Common Retirement Fund bought a new position in Foundation Building Materials in the second quarter valued at approximately $177,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Foundation Building Materials Company Profile

Foundation Building Materials, Inc is a specialty distributor of wallboard and suspended ceiling systems in the United States and Canada. The Company’s segments include Specialty Building Products and Mechanical Insulation. The Company fabricates and distributes its products for specialty contractors seeking to improve or maintain energy efficiency in a range of commercial and industrial buildings.

Earnings History and Estimates for Foundation Building Materials (NYSE:FBM)

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